MINNEAPOLIS, MN - Dougherty Mortgage recently closed a $3.7 million Fannie Mae loan for the refinancing of The Cottages of Pleasant Hill, a 60-unit market rate multifamily housing property located in Pleasant Hill, Iowa.
The age-restricted property consists of five apartment buildings built in 1995 and amenities include a community room and storage rooms. The Property will continue to be operated as an age-restricted community for tenants ages 55 and older.
The 12-year term, 30-year amortization loan was arranged for borrower The Cottages of Pleasant Hill, LLC.
Dougherty Mortgage LLC is a full-service, nationwide mortgage banking firm, an approved FHA MAP and LEAN lender, as well as a Fannie Mae Delegated Underwriting and Servicing (DUS®) lender, offering a variety of loan products for the acquisition, refinance, construction or rehabilitation of various property types.
In addition, Dougherty Mortgage LLC provides loan servicing on their mortgages and is an approved Ginnie Mae seller/servicer, currently servicing in excess of $7.1 billion of loans. Dougherty Mortgage LLC has also been awarded designation as a lender/partner with USDA under the Community Facilities Guaranteed Loan Program.
Based in Minneapolis, Dougherty Mortgage also has offices in Colorado, Georgia, Illinois, Mississippi, Tennessee and Texas.
For more information, please visit www.doughertymortgage.com